Capcom exec says Sony to cut PS3 price again

Financial chief certain PS3 still too expensive to compete

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A mere four days after Sony cut the price of its PlayStation 3 in North America, comes the suggestion that another price cut is inevitable by the year's end. Or so says a major player in the Japanese games industry.

An executive at software developer Capcom has told Reuters that he considers Sony will have no choice but to take another financial hit and lower the price of the PS3 again. Kazuhiko Abe, Capcom's chief financial officer, cited the fact that the console's predecessor is still selling well as a factor.

PS2 keeping little brother back

He said: "The number of PS2 users is still growing and a shift to the PS3 is on the back burner. But, the price has been cut once and it is likely to be cut again towards the end of the year. I expect the (PS3's) installed base to grow gradually."

Given that even the current $499 (£248) price of the PS3 is still twice that of Nintendo's Wii , Abe's point of view makes sense. Although Sony moving again in the five months remaining this year seems like an outside bet at best.